We spoke with a lawyer who advised forming an LLC to purchase the home to protect our personal assets.

I wouldn't be so broad with your criteria. if I was looking in Texas it would be Dallas, Houston, Austin. top 3 markets. in florida we do miami, in ohio we do columbus. those are the #1 net migration cities and we focus in the urban core where migrations tend to be for younger population who have the purchasing power to rent or buy. 

What you can purchase today for $100 will require $155 in 10 years if the inflation rate is 5%.

We are 4 younger guys recently out of college looking at forming an LLC to purchase our first investment property.

The procedure, timetable, and any legal or regulatory requirements should all be understood when performing due diligence for a purchase.

I would, personally, let him exhaust all his funds on the purchase and then you come up with a loan that finishes off the acquisition financing and then holds the rehab funds in escrow in an account you and your brother sign off on for withdraws.I do not think I'd put a lean on the property. 

I'm a Navy Veteran and would like to use my VA loan to make my first home purchase sometime next year.

Is this a purchase or refinance ? 

Hi Brian, It's great to hear that you're exploring your options for purchasing another owner-occupied property in the East Boston/Chelsea area!

I'm looking to purchase a single-family home in the $500k-$600k range with a long-term hold strategy.